Sea Group’s financial health in 7 charts

AS SOUTH-EAST Asia’s largest Internet firm and a popular stock among retail investors, Sea Group’s financial numbers are closely watched. The charts in this article, which are updated every quarter, present a snapshot of how the company is doing.

Total adjusted Ebitda represents the sum of adjusted Ebitda of all of Sea’s segments (digital entertainment, ecommerce, digital financial services, and other services) combined, plus unallocated expenses. This differs from operating loss/profit as it excludes (a) share-based compensation; (b) depreciation and amortization expenses; and (c) the net effect of changes in deferred revenue and its related cost for Sea’s digital entertainment segment.

Bookings include all revenue collected by Garena within a time period. GAAP revenue excludes deferred revenue. Under GAAP, revenue collected by a game within a time period is spread out (hence “deferred”) over its projected lifetime. Adjusted Ebitda represents operating income (loss) before share-based compensation plus (a) depreciation and amortization expenses, and (b) the net effect of changes in deferred revenue and its related cost for the segment.